AIE SA - Australia’s Gas and Electricity Affordability

Presented by Rod Sims, Chairman of the Australian Competition and Consumer Commission

Rod Sims is Chair of the Australian Competition and Consumer Commission (ACCC). Rod has extensive business and public sector experience. Immediately prior to his appointment to the ACCC, he was the Chair of the Independent Pricing and Regulatory Tribunal of New South Wales, Commissioner on the National Competition Council, Chairman of InfraCo Asia, Director of Ingeus Limited and a member of the Research and Policy Council of the Committee for Economic Development of Australia.

The national electricity market is broken and has failed consumers; it needs to be reset — these are the stark findings detailed in the final report from the ACCC’s electricity affordability inquiry.

Energy affordability issues are already hitting manufacturing industry in Australia hard. Commercial and industrial consumers, like mining and manufacturing companies, have watched what has been a relatively competitive advantage to them, in affordable electricity, now threatening their viability. We have gas affordability issues for completely different reasons to those driving our electricity affordability issues and significant changes are required to make it easier for consumers and businesses to understand market offers and improve competition.

In July, the ACCC released the final Retail Electricity Pricing Inquiry Report which outlines recommendations to significantly improve electricity affordability for Australian consumers and businesses. The recommendations, if adopted, will save the average household between $290 and $415 per annum and Australia’s 2.2 million small to medium businesses could save 24 per cent.

The AIE is honoured to welcome Rod Sims as a speaker at our October luncheon. Take this opportunity to hear Mr Rod Sims talk about Australia’s industry competitiveness and how to reduce Australia's electricity prices.